EP holder planing to apply PR next year, should I buy insurance in Singapore now?

I’m an EP holder Malaysian & planed to apply PR next year. Currently I don’t have any insurance at all as I’m not sure where should I buy my insurance for. My main focus will be on hospitalization & CI as I have my parents as my dependent. I’ve been advised that I should buy the insurance before my birthday in January (turning 30). I actually travel back to Johor every week so the time I spend in Sg & MY is roughly the same.
Hope that someone can advise me on this! Thank you

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Tan Li Xing

05 Dec 2019

Financial Consultant at Prudential Assurance Company (Singapore)

Hi Anon,

For hospitalisation, definitely look into getting an integrated shield plan + rider once you have your PR stats, as that will allow you to use your medisave to pay for the premiums for the base plan. For the rider, that will need to be paid in cash.

Side note, hospitalisation due to accidents might not be covered by the integrated shield plan, and you will need to get a personal accident plan for that.

For your concern for CI, I think you can look into them now as there are different policies with different coverages in regard to CI

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Kelly Trinh

30 Nov 2019

Backoffice technical at financial services firm

On the timing:

Generally insurance companies look at your residence (where you live) as that would be more relevant to risk than your immigration status.

For health products the immigration status is used since coverage is different (same hospital benefits but prices diff for PR and foreigner)

Even for latter shouldn't be issue to change to PR premium class if your situation changes. So I would suggest to apply irrespective of what is going on with PR application (also note PR approval can take 6-9 months)

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